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FINRA Requests Comment on Proposed Amendments to the Margin Rule Regarding When Issued and Other Extended Settlement Transactions

FINRA seeks comment on proposed amendments to Rule 4210 (Margin Requirements) that would clarify and incorporate into the rule current interpretations regarding when issued and other extended settlement transactions, and provide relief to facilitate the application of the rule to these transactions.

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Is There a Wrong Way to Report Government Aid?

The pandemic has spurred the most ambitious federal aid initiatives in recent times and nearly a year later businesses have partaken of federal aid in many shapes including the Paycheck Protection Program, Economic Injury Disaster Loans, as well as tax credits and deferred deadlines. According to CFO Dive, accounting for government assistance is not covered by existing GAAP and many companies are using a variety of approaches when tracking it through their financials. Vice Chair of the MICPA Corporate Finance Task Force and Vice President of Finance and Purchasing at Hirotec America, Sharon Beetham shares her thoughts on the topic.

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Considerations for the Future of Financial Literacy

On March 31, President Biden issued a proclamation recognizing April of 2021 as National Financial Capability Month1. Since the month of April is already reserved for Financial Literacy, the additional focus on financial capability seems a reflection of the times. According to CNBC, a recent survey revealed that many Americans believe that more financial education would have helped them better manage their money throughout the pandemic2. This ought to come as no surprise to those working in the financial realm, especially considering our previous reports on the state of financial education, but why aren’t financial literacy initiatives enough, why must we now hone focus upon capability as well and what does that mean for Financial Literacy Month moving forward?

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New Michigan Case Sparks Fresh Concern Over License Scams

The Michigan Department of Licensing and Regulatory Affairs (LARA) announced the devastating loss of a Michigan physical therapist’s life savings to fraudsters that posed as LARA investigators. The MICPA reports on the latest scam targeting licensed professionals in Michigan and how to protect yourself and your financials from imposter fraud.

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Every SBA Update on Pending Small Business Aid

Last week, the U.S. Small Business Administration (SBA) made multiple announcements regarding ongoing federal relief efforts. Read the MICPA’s break down of everything that happened at the SBA last week to stay on top of the latest aid for you and your clients’ small businesses.

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Turning Point: Driving Diversity, Equity & Inclusion in Accounting

The accounting profession has long been aware of its diversity, equity and inclusion (DE&I) challenges. A survey of 3,000 former and current accounting professionals revealed that approximately half of female, nonwhite and LGBTQIA respondents left their jobs at U.S. accounting firms citing a lack of inclusion and equity. Paul Bryant, Plante Moran partner, MICPA member and chair of the MICPA Diversity & Inclusion Initiatives Task Force discusses these real issues, how to begin talking about them and what companies and firms can do to increase awareness and start making changes.

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Less Than A Week Left to Complete the FAFSA

Students who want to be given priority consideration for state of Michigan financial aid programs have less than a week to submit their Free Application for Federal Student Aid, according to the Michigan Department of Treasury.

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Forgiven Paycheck Protection Loans Won't Be Taxed

Taxpayers who accepted federal Paycheck Protection Program (PPP) loans will not be taxed on loans forgiven through that program, according to the Michigan Department of Treasury.

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How to Breakthrough Stress Before It Breaks You

Even before the pandemic, teaching ranked as the second most stressful job in the country. Educators are the driving force behind generations of accumulated knowledge and learning, charged with tending the very future of the nation. That weight is heavier now than it has ever been, and the MICPA takes a closer look at how to bust stress before it reaches critical mass.

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Smart Tech Investment: Meaningful Cyber Security

Spending on cyber security increased by 63% overall last year, an attempt by many companies to beef up security in the face of growing vulnerabilities associated with remote work. But what was the return on investment? The MICPA takes an in depth look at how to adopt meaningful #cybersecurity and apply it to you and your clients’ businesses.

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